SEI Investments Company (NASDAQ:SEIC), a $10.7 billion market cap financial services firm, has reached an all-time high, with its stock price soaring to $83.16. Trading at a P/E ratio of 19.83, InvestingPro analysis suggests the stock remains slightly undervalued. This milestone underscores a remarkable period of growth for the asset management firm, which has seen its stock value climb by an impressive 39.06% over the past year. The company's solid fundamentals include 8.53% revenue growth and a strong dividend track record, having maintained payments for 37 consecutive years. Investors have shown increasing confidence in SEIC's business model and market position, propelling the company's shares to unprecedented levels. The 52-week high marks a significant achievement for SEIC, reflecting both the company's "GOOD" overall financial health score and positive sentiment among shareholders about its future prospects. For deeper insights into SEIC's valuation and growth potential, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, SEI Investments has reported robust financial performance with its recent quarterly results surpassing estimates. The company's operating margins increased from 26% to 27% and record-breaking sales events totaled $46 million. The earnings per share (EPS) for the period was reported at $1.19, exceeding both analyst expectations and consensus estimates. After adjusting for one-time gains, the core EPS was estimated at $1.11.
In response to these developments, both Piper Sandler and Oppenheimer have revised their price targets for SEI Investments. Piper Sandler has increased the price target to $77 from the previous $74 while maintaining a neutral stance on the stock. Similarly, Oppenheimer has raised its price target to $85 from the previous $81, maintaining an Outperform rating on the stock.
SEI Investments' revenue from the Federal Deposit Insurance Corporation (FDIC) cash program is projected to double in the fourth quarter due to enhancements that increased the cash sweep. The company's assets under management, administration, and advisement have also reached new highs. These are recent developments that underline SEI Investments' strong position in the financial sector.
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